Donedeal builds a robust structure for growth and refinancing at Energyst

Donedeal's client Energyst provides complete power and temperature control solutions to the European manufacturing, utility, events, shipping, telecommunications and construction industries.

(PRWEB) July 14, 2004 -- Originating from a spin-out, Energyst unified European dealer activities through a buy-and-build strategy. Via this strategy, Energyst approaches the European market for both the temperature control and power segments as one unified team.

First, donedeal's work focused on standardizing the monthly financial and management reporting to top management, providing the impetus for reporting to the board of directors, and shareholders, while putting the necessary control and operational procedures in place. Next to this, donedeal has set standards for management reporting. "I would like to thank donedeal for their assistance with the formation of Energyst", says a delighted Bob Koval, CEO. "With donedeal providing these services, Energyst's top management team could keep clear track of financial areas, control, trends, and operational progress.

In a second phase, donedeal created harmonization and uniformity among the holding company and country organizations regarding accounting policies, operational and management processes in a way the absorption process of newly acquired companies was streamlined and a more robust and transparent organization was developed.

As part of this phase, donedeal also drove the implementation of the financial segment of a European-wide ERS solution. The close relationship and trust developed between donedeal and the IT and operations & finance departments facilitated top management to save crucial management time and stay focused on the strategic issues and building the business. In essence, donedeal defined a blueprint for the full financial implementation and absorption processes of future acquisitions, thus reducing risk.

Martin Potter, Energyst's CFO, said he was extremely pleased with the cooperation. "donedeal's Monique Wolvekamp developed into a true center of excellence in a multitude of key areas. donedeal earned the trust and loyalty of the Energyst staff and senior management, being able to completely rely on their output, advise, and quality it contained".

Energyst's first full trading year resulted in 17% revenue growth to less than Euro 50 million and this in a flat market. In the next phase, Energyst further concentrated on the transformation into a robust financing structure in order to be ready for a long-term refinance facility.

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